Compare Nigeria (2008) - Nigeria (2007)

Compare Nigeria (2008) z Nigeria (2007)

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	Nigeria (2008)	Nigeria (2007)

Background	British influence and control over what would become Nigeria grew through the 19th century. A series of constitutions after World War II granted Nigeria greater autonomy; independence came in 1960. Following nearly 16 years of military rule, a new constitution was adopted in 1999, and a peaceful transition to civilian government was completed. The government continues to face the daunting task of reforming a petroleum-based economy, whose revenues have been squandered through corruption and mismanagement, and institutionalizing democracy. In addition, Nigeria continues to experience longstanding ethnic and religious tensions. Although both the 2003 and 2007 presidential elections were marred by significant irregularities and violence, Nigeria is currently experiencing its longest period of civilian rule since independence. The general elections of April 2007 marked the first civilian-to-civilian transfer of power in the country's history.	British influence and control over what would become Nigeria grew through the 19th century. A series of constitutions after World War II granted Nigeria greater autonomy; independence came in 1960. Following nearly 16 years of military rule, a new constitution was adopted in 1999, and a peaceful transition to civilian government was completed. The government faces the daunting task of reforming a petroleum-based economy, whose revenues have been squandered through corruption and mismanagement, and institutionalizing democracy. In addition, the defusing longstanding ethnic and religious tensions are a priority if Nigeria is to build a sound foundation for economic growth and political stability. Although the April 2003 elections were marred by some irregularities, Nigeria is currently experiencing its longest period of civilian rule since independence. General elections in April 2007 were considered significantly flawed by Nigerian and international observers but they marked the first civilian-to-civilian transfer of power in the country's history. President Umaru Musa YAR'ADUA took office on 29 May 2007.
Budget	revenues: $20.5 billion expenditures: $21.82 billion (2007 est.)	revenues: $17.5 billion expenditures: $18.67 billion (2006 est.)
Debt - external	$5.815 billion (31 December 2007 est.)	$6.575 billion (2006 est.)
Diplomatic representation from the US	chief of mission: Ambassador Robin SANDERS embassy: 1075 Diplomatic Drive, Abuja mailing address: P. O. Box 5760, Garki, Abuja telephone: [234] (9) 461-4000 FAX: [234] (9) 461-4036/4273	chief of mission: Ambassador John CAMPBELL embassy: 7 Mambilla Drive, Abuja mailing address: P. O. Box 554, Lagos telephone: [234] (9) 523-0916/0906/5857/2235/2205 FAX: [234] (9) 523-0353
Diplomatic representation in the US	chief of mission: Ambassador Oluwole ROTIMI chancery: 3519 International Court NW, Washington, DC 20008 telephone: [1] (202) 986-8400 FAX: [1] (202) 775-1385 consulate(s) general: Atlanta, New York	chief of mission: Ambassador Professor George A. OBIOZOR chancery: 3519 International Court NW, Washington, DC 20008 telephone: [1] (202) 986-8400 FAX: [1] (202) 775-1385 consulate(s) general: Atlanta, New York
Economy - overview	Oil-rich Nigeria, long hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management, is undertaking some reforms under a new reform-minded administration. Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 80% of budgetary revenues. The largely subsistence agricultural sector has failed to keep up with rapid population growth - Nigeria is Africa's most populous country - and the country, once a large net exporter of food, now must import food. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion credit from the IMF, both contingent on economic reforms. Nigeria pulled out of its IMF program in April 2002, after failing to meet spending and exchange rate targets, making it ineligible for additional debt forgiveness from the Paris Club. In the last year the government has begun showing the political will to implement the market-oriented reforms urged by the IMF, such as to modernize the banking system, to curb inflation by blocking excessive wage demands, and to resolve regional disputes over the distribution of earnings from the oil industry. In 2003, the government began deregulating fuel prices, announced the privatization of the country's four oil refineries, and instituted the National Economic Empowerment Development Strategy, a domestically designed and run program modeled on the IMF's Poverty Reduction and Growth Facility for fiscal and monetary management. In November 2005, Abuja won Paris Club approval for a debt - relief deal that eliminated $18 billion of debt in exchange for $12 billion in payments - a total package worth $30 billion of Nigeria's total $37 billion external debt. The deal requires Nigeria to be subject to stringent IMF reviews. GDP rose strongly in 2007, based largely on increased oil exports and high global crude prices. Newly-elected President YAR'ADUA has pledged to continue the economic reforms of his successor and the proposed budget for 2008 reflects the administrations emphasis on infrastructure improvements. Infrastructure is the main impediment to growth. The government is working toward developing stronger public-private partnerships for electricity and roads.	Oil-rich Nigeria, long hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management, is undertaking some reforms under a new reform-minded administration. Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 65% of budgetary revenues. The largely subsistence agricultural sector has failed to keep up with rapid population growth - Nigeria is Africa's most populous country - and the country, once a large net exporter of food, now must import food. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion credit from the IMF, both contingent on economic reforms. Nigeria pulled out of its IMF program in April 2002, after failing to meet spending and exchange rate targets, making it ineligible for additional debt forgiveness from the Paris Club. In the last year the government has begun showing the political will to implement the market-oriented reforms urged by the IMF, such as to modernize the banking system, to curb inflation by blocking excessive wage demands, and to resolve regional disputes over the distribution of earnings from the oil industry. In 2003, the government began deregulating fuel prices, announced the privatization of the country's four oil refineries, and instituted the National Economic Empowerment Development Strategy, a domestically designed and run program modeled on the IMF's Poverty Reduction and Growth Facility for fiscal and monetary management. In November 2005, Abuja won Paris Club approval for a debt - relief deal that eliminated $18 billion of debt in exchange for $12 billion in payments - a total package worth $30 billion of Nigeria's total $37 billion external debt. The deal requires Nigeria to be subject to stringent IMF reviews. GDP rose strongly in 2006, based largely on increased oil exports and high global crude prices.
Exchange rates	nairas per US dollar - 127.46 (2007), 127.38 (2006), 132.59 (2005), 132.89 (2004), 129.22 (2003)	nairas per US dollar - 127.38 (2006), 132.59 (2005), 132.89 (2004), 129.22 (2003), 120.58 (2002)
Exports	2.203 million bbl/day (2004)	NA bbl/day
GDP - composition by sector	agriculture: 17.6% industry: 53.1% services: 29.3% (2007 est.)	agriculture: 17.3% industry: 54.3% services: 28.4% (2006 est.)
GDP - real growth rate	6.1% (2007 est.)	5.3% (2006 est.)
Imports	167,900 bbl/day (2004)	NA bbl/day
Imports - partners	China 10.7%, US 8.3%, Netherlands 6.2%, UK 5.8%, France 5.6%, Brazil 5.1%, Germany 4.6% (2006)	China 10.7%, US 8.4%, Netherlands 6.2%, UK 5.8%, France 5.6%, Brazil 5.1%, Germany 4.5% (2006)
Industrial production growth rate	3.1% (2007 est.)	-1.6% (2006 est.)
Inflation rate (consumer prices)	6.5% (2007 est.)	8.2% (2006 est.)
International organization participation	ACP, AfDB, AU, C, ECOWAS, FAO, G-15, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, NAM, OAS (observer), OIC, OPCW, OPEC, PCA, UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNITAR, UNMEE, UNMIL, UNMIS, UNOCI, UNOMIG, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO	ACP, AfDB, AU, C, ECOWAS, FAO, G-15, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, MONUC, NAM, OAS (observer), OIC, ONUB, OPCW, OPEC, PCA, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNITAR, UNMEE, UNMIL, UNMIS, UNMOVIC, UNOCI, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	50.13 million (2007 est.)	49.62 million (2006 est.)
Pipelines	condensate 124 km; gas 3,071 km; liquid petroleum gas 156 km; oil 4,347 km; refined products 3,949 km (2007)	condensate 126 km; gas 2,812 km; liquid petroleum gas 125 km; oil 4,278 km; refined products 3,517 km (2006)
Political parties and leaders	Accord Party [Ikra Aliyu BILBIS]; Action Congress or AC [Hassan ZUMI]; Alliance for Democracy or AD [Mojisoluwa AKINFENWA]; All Nigeria Peoples' Party or ANPP [Edwin UME-EZEOKE]; All Progressives Grand Alliance or APGA [Victor C. UMEH]; Democratic People's Party or DPP [Jeremiah USENI]; Fresh Democratic Party [Chris OKOTIE]; Labor Party [Dan NWANYANWU]; Movement for the Restoration and Defense of Democracy or MRDD [Mohammed Gambo JIMETA]; National Democratic Party or NDP [Aliyu Habu FARI]; Peoples Democratic Party or PDP [vacant]; Peoples Progressive Alliance [Clement EBRI]; Peoples Redemption Party or PRP [Abdulkadir Balarabe MUSA]; Peoples Salvation Party or PSP [Lawal MAITURARE]; United Nigeria Peoples Party or UNPP [Mallam Selah JAMBO]	Action Congress or AC [Bisi AKANDE]; Advanced Congress of Democrats or ACD [Alex ANIELO]; Alliance for Democracy or AD [Mojisoluwa AKINFENWA]; All Nigeria Peoples' Party or ANPP [Alh Modu SHERIF]; All Progressives Grand Alliance or APGA [Victor C. UMEH]; Democratic People's Party or DPP [Umara AHMED]; Fresh Democratic Party [Chris OKOTIE]; Movement for the Restoration and Defense of Democracy or MRDD [Mohammed Gambo JIMETA]; National Democratic Party or NDP [Aliyu Habu FARI]; Peoples Democratic Party or PDP [Olusegun OBASANJO]; Peoples Redemption Party or PRP [Abdulkadir Balarabe MUSA]; Peoples Salvation Party or PSP [Lawal MAITURARE]; United Nigeria Peoples Party or UNPP [disputed leadership]
Telephone system	general assessment: further expansion and modernization of the fixed-line telephone network is needed domestic: the addition of a second fixed-line provider in 2002 resulted in faster growth of this service with fixed-line subscribership nearly tripling over the past five years; wireless telephony has grown rapidly, in part responding to the shortcomings of the fixed-line network; multiple service providers operate nationally; combined fixed-line and mobile-cellular teledensity reached 25 per 100 persons in 2006 international: country code - 234; landing point for the SAT-3/WASC fiber-optic submarine cable that provides connectivity to Europe and Asia; satellite earth stations - 3 Intelsat (2 Atlantic Ocean and 1 Indian Ocean)	general assessment: expansion and modernization of the fixed-line telephone network has been slow due to faltering efforts at privatization domestic: the addition of a second fixed-line provider in 2002 resulted in faster growth of this service; wireless telephony has grown rapidly, in part responding to the shortcomings of the fixed-line network; 4 wireless (GSM) service providers operate nationally; the combined growth resulted in a sharp increase in teledensity reported to be over 18% in March 2006 international: country code - 234; satellite earth stations - 3 Intelsat (2 Atlantic Ocean and 1 Indian Ocean); fiber optic submarine cable (SAT-3/WASC) provides connectivity to Europe and Asia

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